Arsenal Venture Partners Exits Sirrus, Inc
Leader of next generation high-performance monomers and derivatives
Winter Park, FL – May 16, 2017 – Arsenal Venture Partners (AVP) announced the sale of Sirrus, Inc. Nippon Shokubai has acquired Sirrus for an undisclosed amount. Braemar Energy Ventures and Arsenal Venture Partners led Sirrus Inc.’s Series A round and held a position on Sirrus’ Board of Directors from the time of investment until the acquisition.
Sirrus, based in Loveland, OH, USA and founded as Bioformix in 2009, has developed cost advantaged processes to produce reactive monomers at high purities. Its leading target monomer, diethyl methylene malonate, or DEMM, together with its derivatives, or MM-D, can be used in a variety of applications where customers in a broad range of markets value faster cure times, lower solvent usage and are faced with legislation restricting the use of incumbent formulation components. Sirrus has developed a robust patent portfolio, consisting of over 25 global patents that address process technologies, methods of application, initiation, formulation and stabilization, as well as composition of matter for certain homopolymers, copolymers and hybrid polymers.
Masanori Ikeda, President of Nippon Shokubai, said “It is rare to find a platform monomer company like Sirrus to provide best in class reactive monomers and materials to its customers. Combined with Sirrus’ intellectual property position, track record of innovation and access to a broad range of customers and applications, the transaction is a strong strategic fit for Nippon Shokubai”.
As a wholly owned operating subsidiary of Nippon Shokubai, Sirrus will have access to additional resources to accelerate the development and commercialization of DEMM and MM-D, including in the areas of manufacturing, regulatory, capital planning and sales and marketing. As part of the transaction, the management team of Sirrus will continue in their current roles. Moving forward, both companies will conduct collaborative operations for early establishment of supply chains and market entry, targeting the start-up of the first commercial plant in 2019.
ABOUT SIRRUS, INC.
Founded in 2009 and formerly known as Bioformix, Sirrus was founded to commercialize efficient, high-performance monomers and derivatives. Sirrus technologies result in the reduction or elimination of energy consumption and improved product performance for advanced manufacturing and assembly industries. For more information, visit www.sirruschemistry.com.
ABOUT NIPPON SHOKUBAI
Nippon Shokubai is engaged in the long-term business plan “Reborn Nippon Shokubai 2020” started in 2014, in which Nippon Shokubai has committed to creating new core businesses in addition to its existing acrylic and superabsorbent business. DEMM and MM-D will be positioned as key strategic materials, and will accelerate new business development and global expansion. Nippon Shokubai will continue to pursue organic growth through open innovations and M&A to develop products of high value and to provide affluence and comfort to people and society.
ABOUT ARSENAL VENTURE PARTNERS
Arsenal Venture Partners is an execution stage venture capital firm that focuses at the intersection of government, large corporations, and emerging technology companies. Since 2000, Arsenal has partnered with visionary entrepreneurs building exceptional businesses in the enterprise, commerce/logistics, and healthcare sectors. Arsenal adds value by fostering relationships from our unique network and experience working with the Federal government and Global 1000 Companies. Leveraging our deep network within government agencies solidifies our position and is often our invitation into competitive syndicates. With a nationwide team, we take a theme driven approach that drives methodical outreach and targeted investments. Read more about Arsenal Venture Partners at www.arsenalvp.com and connect with us on LinkedIn and Twitter.
Arsenal Venture Partners